Britain’s energy secretary said on Wednesday it is still possible to deploy the Wylfa nuclear power project in the 2030s if a financing model can be agreed. Last month, Japan’s Hitachi Ltd put its plans for a nuclear plant at Wylfa in Anglesey, Wales, on hold after it failed to find private investors. “It is still possible to deploy Wylfa in the 2030s if a financing model can be agreed,” Greg Clark told a parliamentary committee. The government is looking at the potential for a different funding model such as a regulated asset-based one which it will update on during the summer. “One of the reasons (nuclear plants) have proved difficult to finance is because there is an abundance of alternatives which are cheaper. Nuclear has a much longer lead time than any of those alternatives. There is no shortage of ability to replace that power,” Clark added.
Reuters 6th Feb 2019 read more »
A senior boss of a company behind suspended plans for a £13bn new nuclear power plant in Anglesey has been criticised by the local Labour MP. Hitachi’s chairman Hiroaki Nakanishi was quoted saying nationalisation was the only way to revive Wylfa Newydd. Ynys Môn MP Albert Owen called the comments, at January’s World Economic Forum in Davos, “not very helpful”. In December, Hitachi said it would suspend work on building Wylfa Newydd because of rising costs. The Business and Energy Secretary Greg Clarke was appearing in front of MPs on Wednesday. He said it was still possible to “deploy Wylfa in the 2030s if a financing model can be agreed”. Speaking at the Business and Energy committee on Tuesday, Mr Owen told Mr Clarke: “It’s not very helpful when you get the chairman of Hitachi going to Davos, where I think politicians and senior businessmen go to drop their guard, and say specifically that ‘nationalisation is the only path to save this nuclear project’. “400 people are receiving their redundancies notices in my constituency.
BBC 6th Feb 2019 read more »
Horizon Nuclear Power is still seeking the go ahead for its £20bn Wylfa Newydd nuclear power station, despite pausing work on the site last month.
New Civil Engineer 7th Feb 2019 read more »